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Insurance Advising

Why Insurance? Because life happens!

Addressing the possibilities of an uncertain future can be daunting for most people. However, the unthinkable can happen and protecting yourself and your loved ones at life’s critical crossroads is vital. A single, tragic incident can permanently derail your best intentions. Life, disability and long-term care insurance need to be considered when structuring your financial future.

Disability Insurance

The chances of you becoming disabled are higher than you think they are.

You can avoid the discussion, but it’s hard to ignore the facts:

Just over 1 in 4 of today's twenty-year olds will become disabled before they retire.

Accidents are NOT usually the cause of a disability. Back injuries, cancer, heart disease and other illnesses are the leading causes of long-term absences.

If you're like most Americans, you aren’t prepared for this to happen. You don't have disability insurance or enough emergency savings to last 34.6 months, the duration of the average long-term disability claim.

If you become disabled, will you be ready? Or will you and your loved ones face serious financial hardship, possibly foreclosure and even bankruptcy? (Source: Council for Disability Awareness)

Life Insurance

Why should I buy life insurance?

While having a financial roadmap for the expected life occurrences such as marriage, home ownership, children, college and retirement are all important, what happens when things don’t occur in the order you planned them to? A sound financial plan should incorporate life insurance to assist with the roadblocks life throws your way.

Are your loved ones safe and provided for if you die? Will the loss of your financial support further devastate their lives? Government or employer sponsored benefits will be reduced upon your death. Can your surviving beneficiaries weather this storm?

Will your loved ones be able to afford the costs associated with your final expenses? Funeral and burial costs, probate and estate administration costs, not to mention medical expenses not covered by health insurance can derail your family’s future.

Would your sudden death leave no inheritance for your heirs? Will federal and state “death” taxes financially devastate your family and force them to liquidate beloved assets in order to satisfy the debt?

Purchasing the correct type of life insurance enhances your financial plan and the security of your loved ones in dealing with the unexpected. We consider all of the possibilities and suggest options best suited to your current situation. We also address the need to continual review of your circumstances to adjust coverages as your situation changes.

Long-Term Care

Nearly two out of every three Americans will need assistance with activities of daily living, such as bathing, walking, dressing, and toileting, at some point in their lives whether due to illness or disability. Furthermore 3 out of every 4 people who live past age 65 will need some sort of long-term care support. Long-term care is a variety of services and supports to meet health or personal care needs over an extended period of time. — Source U. S. Department of Health and Human Services.

Will You Be Able to Afford Nursing Home Care?

Nobody wants to think about the possibility of needing long-term care. But if, somewhere down the line, you and/or your spouse do need assistance, will you have the funds available to pay for care? How much will an extended stay in a nursing facility or home care cost? Will you be able to meet these costs and still pay for you and/or your spouse’s personal living expenses? Will there be enough left over to provide an inheritance for your loved ones or your favorite charity? Does it make sense to self-insure when private long-term-care coverage may be available?

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*Securities and advisory services offered, in states where licensed, exclusively through representatives of KMS Financial Services, Inc., Member FINRA/SIPC and an SEC Registered Investment Advisor. Emails related to those services should be directed to jamison@bannafinancial.com.

This site is for informational purposes only and is not an offer to sell or a solicitation of an offer to buy any securities or investment advisory services which may be referenced herein. We may only offer services in states in which we have been properly registered or are exempt from registration. Therefore some of the services mentioned may not be available in your state, and if not, the information is not intended for you.